Article Image

IPFS News Link • Economy - Economics USA

Jeweler: Expect Significant Price Increases For Diamonds


MINNEAPOLIS (WCCO) — Intense sparkle may not be the only thing that deserves a double take when it comes to diamonds. Take a look at the price-tag.

Jewelers say you can expect to see price increases ranging from 10 percent to 20 percent depending on the quality of the diamond.

Why the price of diamonds could outperform gold — and a fashion trend that could save you money.

Diamonds may be a girl’s best friend, but new price hikes show they could become a man’s worst nightmare.

“I’ve seen things happen last year that I would not have believed,” said John Sorich, owner of jewelry discounter, Diamond Direct.

Sorich has spent the last 30 years keeping a close eye on market ups and downs.

“We’ve been in the business since 1981,” he said.

He said the latest price increases are some of the most dramatic he’s ever seen.